Save Article

ABB's Power Drain on Earnings

By

Renée Schultes

Jan. 22, 2014 11:10 a.m. ET

ABB has been blown off course.

The Swedish-Swiss engineering group warned Wednesday that fourth-quarter earnings per share would be about $0.23, slightly down on a year ago and well below consensus expectations for $0.40 a share. The 4.5% fall in the shares might seem an overreaction; the profit downgrade was prompted by a $260 million charge, most of which related to the cost of weather-related delays to the installation of risky...